http://www.legislation.gov.uk/ukpga/1981/21Ports (Financial Assistance) Act 1981An Act to provide financial assistance to the Port of London Authority and the Mersey Docks and Harbour Company; and to increase the limit on sums borrowed by the National Dock Labour Board.1981-08-01texttext/xmlenStatute Law Database2011-05-271991-02-01 1981 c. 21An Act to provide financial assistance to the Port of London Authority and the Mersey Docks and Harbour Company; and to increase the limit on sums borrowed by the National Dock Labour Board.[11th June 1981]11The Secretary of State may, with the consent of the Treasury, give financial assistance to the Port of London Authority and the Mersey Docks and Harbour Company—afor measures taken by them to reduce the number of persons employed in, or in ports adjacent to, their respective ports, being measures taken with a view to restoring the profitability of their undertakings; andbfor the carrying on of their undertakings while such measures are being taken.2Assistance under subsection (1) above may be given by way of a grant or loan or in the form of a guarantee; and in giving assistance under that subsection the Secretary of State may impose such conditions as he thinks fit, including conditions requiring a grant to be repaid in specified circumstances.3The aggregate at any time of—agrants made under subsection (1) above and not repaid;boutstanding loans made under that subsection; andcamounts in respect of which guarantees under that subsection are in force,shall not exceed £500 million.4Any grant, loan or guarantee falling within this subsection shall be taken into account for the purposes of subsection (3) above as if it were a grant, loan or guarantee (as the case may be) made or given under subsection (1) above.5The following grants, loans and guarantees fall within subsection (4) above:—athose (not within paragraph (b) or (c) below) made or given by any Minister of the Crown before, but not earlier than one year before, the passing of this Act for the purposes specified in subsection (1) above;bthose made or given before the passing of this Act under section 1(1) of the Port of London (Financial Assistance) Act 1980;cthose made or given before the passing of that Act and taken into account by virtue of section 1(5) of that Act as if made or given under section 1(1) of that Act.6Any sums required by the Secretary of State for making payments under this section shall be defrayed out of moneys provided by Parliament; and any sums received by him by virtue of this section shall be paid into the Consolidated Fund.7The Port of London (Financial Assistance) Act 1980 is hereby repealed.23This Act may be cited as the Ports (Financial Assistance) Act 1981.S. 1(3) modified by Transport Act 1983 (c. 10, SIF 126), s. 11(2)S. 1(3) amended by Ports (Reduction of Debt) Act 1983 (c. 22, SIF 58), s. 1(3)Words substituted by virtue of Ports (Finance) Act 1985 (c. 30, SIF 58), s. 21980 c. 31. The text of S. 1(7) is in the form in which it was originally enacted: it was not reproduced in Statutes in Force and does not reflect any amendments or repeals which may have been made prior to 1.2.1991.S. 2 repealed by Dock Work Act 1989 (c. 13, SIF 43:1) s. 7(1), Sch. 1 Pt. I